The lead time for the delivery of chips – which is the amount of time between order placement and delivery – rose to 21.7 weeks in September 2021, significantly up from the previous year’s average of 12.6 weeks. Supply chain disruptions in chip delivery, coupled with the energy crisis in key producer China mean the Kingdom’s retailers could face lower availability of products, a Saudi investment bank said in a report.Īl Rajhi Capital explained that chip shortages will hamper the production and distribution of electronic devices. On the last day, the region - from Congo to Kyrgyzstan - will be highlighted as the “land of opportunity,” with the main session exploring global investments and accessing capital. There will be discussions on mining’s role in a low-carbon economy, country briefings, among others. The next day will feature another set of sessions which will be kicked off by a plenary speech by Saudi Minister of Industry and Mineral Resources Banda bin Ibrahim Al-Khorayef. More than 2,000 decision-makers from over 100 countries will join in excess of 150 top global investors at the event, the organizer said, adding more than 100 international speakers will also be there.Īlso on the first day, a “mining in a day” workshop will be held, alongside other sessions that will discuss topics including investments, the role of technology in mining, and environmental, social, governance issues. The special session will feature presentations and discussions “critical to the future of the mining industry,” the ministry said, as it announced more details of the three-day Riyadh summit to take place at the King Abdulaziz International Conference Center. 11, its organizer the Saudi Ministry of Industry and Mineral Resources announced RIYADH: An invitation-only ministerial roundtable will headline the Future Mineral Summit in Riyadh, when it opens on Jan.
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The ministry avoided the closure of factories to preserve the markets, as a number of them relied on Egyptian products to replace the ones from factories that stopped working due to the pandemic, he explained.Īdditionally, the immediate payment initiative launched jointly by the ministries of trade and industry, and finance has allowed exporters to pay arrears to meet their commitments towards customers.Įxports also benefited from the free trade agreements signed between Egypt and African countries, which achieved high growth rates in the import of Egyptian products. This increase is attributed to the ministry of trade and industry’s efforts to support the export sectors during the pandemic, Abu Al Makarem said. The importance of the sector's exports stood out, reaching about 22 percent of the volume of Egyptian non-oil exports.ĮU countries accounted for the lion’s share with 29 percent of the total chemical exports, followed by Asian countries and Arab countries with 21 percent each. The sector recorded $6.6 billion in 2021, compared to $4 billion in the year before, the head of the Chemical and Fertilizers Export Council, Khaled Abu Al Makarem, said. The chemical industries and fertilizers sector occupied the first place in the volume of Egypt’s exports, achieving an annual growth of 43 percent during 2021.
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Germany's Thyssenkrupp slumped 6.9 percent on news that Swedish activist fund Cevian is placing a 6.9 percent stake in the firm, Refinitiv news service IFR reported. Overall, growing nerves around a fourth wave of COVID-19 infections stalling European economic recovery at a time when central banks are planning the withdrawal of monetary support pulled investors out of equities. Travel stocks slipped 0.9 percent after the United States issued an advisory against movement to Germany and Denmark due to rising COVID-19 cases, while oil stocks slid 0.3% tracking a dip in crude prices on growing expectations that the U.S., Japan and India will release crude reserves to tame prices. Tech stocks plunged 2.5 percent as prospect of a high-rate environment dented appeal of the high-growth sector.
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The pan-European STOXX 600 dropped 1 percent by 0815 GMT, after Asian markets followed Wall Street lower on Federal Reserve Chair Jerome Powell's renomination, which buoyed bets on U.S. European stocks slumped to three-week lows on Tuesday as a resurgence of COVID-19 cases and rate hike concerns knocked sentiment ahead of flash readings on euro zone business activity.